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cnbc.com
Digital Realty falls 5% after taking $3.5 billion stake in Blackstone's Virginia data centers
Digital Realty fell in premarket trading Tuesday after it announced its buying a $3.5 billion stake in three data centers from asset manager Blackstone.
theguardian.com
UK living standards fall despite fastest growth in G7, highlighting Burnham’s economic challenge – business live
GDP quarterly national accounts show people grew worse off in January to March 2026, and saved less tooNewsflash: European media group Axel Springer has completed its takeover of the Telegraph in a £575m deal, after winning all the necessary regulatory approvals.Axel Springer CEO Mathias Döpfner says:”Today is a day we have worked towards for a long time, and one we will always remember.Axel Springer was founded in 1946 under a British press license, and The Telegraph was our North Star. Axel Springer and The Telegraph share strong commitments to freedom, values, a tradition of embracing and pioneering technological change, and an entrepreneurial will to actively shape the future. Continue reading...
cnbc.com
Indonesia jails former education minister for 10 years in Google Chromebook graft case
Makarim was found guilty in a case over the procurement of Google Chromebooks for schools
bbc.co.uk
WhatsApp to let people chat by swapping usernames instead of phone numbers
The app's new usernames feature will be rolled out globally over the next few months.
theguardian.com
Telegraph’s £575m takeover by German group completed
Acquisition by Axel Springer ends three years of uncertainty over ownership of 172-year-old titlesBusiness live – latest updatesThe European media group Axel Springer has completed its £575m takeover of the Telegraph, ending three tumultuous years of uncertainty over the future ownership of the 172-year-old titles.The Germany-headquartered company, which gazumped the owner of the Daily Mail by tabling a blockbuster offer at the 11th hour, said it had now received all regulatory approvals in the UK, Ireland and Austria to take full control of Telegraph Media Group (TMG). Continue reading...
cnbc.com
Medicare will start covering obesity drugs for the first time. Here's what patients should know
The move could unlock millions of new patients for Novo Nordisk and Eli Lilly and expand access to medications that were previously out of reach for seniors.
cnbc.com
Inflation likely to stay ‘significantly above target,’ top European central banker warns
Joachim Nagel, president of Germany’s Bundesbank, spoke to CNBC on the sidelines of an ECB conference in Portugal.
theguardian.com
EU halves duty-free steel quota but UK and other partners given better rate
Thirteen countries with a free trade agreement with Brussels have their quota reduced by just one-thirdBusiness live – latest updatesThe EU has halved the amount of duty-free steel it will accept from abroad, but has agreed to higher levels of imports for more than a dozen trading partners including Britain.The curbs are designed to reduce cheap Chinese steel coming into the bloc. However, 13 countries with a free trade agreement (FTA) with Brussels, including the UK, have had their quota reduced by just one-third. Continue reading...
cnbc.com
Buffett delays annual donation to Gates Foundation pending review of Jeffrey Epstein ties: WSJ
This comes as the foundation continues to review its ties to the late sex offender Jeffery Epstein.
theguardian.com
EY sacks graduate employee after he allegedly accessed Australian PM’s bank account
Two men – including one who worked for EY – appear in court after being charged over accessing restricted dataGet our breaking news email, free app or daily news podcastAn employee at one of Australia’s big four accounting firms has been sacked after he and another man allegedly accessed the prime minister Anthony Albanese’s personal banking account.The men, aged 21 and 25, faced court on Tuesday over the breach, which Australian federal police alleged occurred when the EY graduate was on secondment at the Commonwealth Bank. Continue reading...
theguardian.com
Nearly 25% of UK pubs and restaurants lose money, research shows
Hospitality trade bodies’ data published as celebrity chefs and restaurateurs launch campaign for VAT cutNearly a quarter of UK pubs, bars and restaurants are losing money, according to new survey data that came as a group of celebrity chefs and business owners stepped up their campaign for a sector-specific VAT cut.Spearheaded by chef Tom Kerridge, leading figures in the hospitality sector are calling for VAT on the industry to be cut from 20% to 10%. Continue reading...
bbc.co.uk
Homes harder to sell as high mortgage rates frustrate buyers
Three in five homes listed for sale since January remain on the market, says property portal Zoopla.
cnbc.com
CNBC Daily Open: ECB goes 'back to basics'
ECB President Christine Lagarde says the recent hike was "justified under every scenario," as Fed Chairman Kevin Warsh prepares to speak at the event.
theguardian.com
Cost to rewire Great Britain’s electricity network could reach £90bn in 2030s
Energy system operator says sum needed to deliver clean power targets while meeting rising demand is up by 50%The cost of rewiring Great Britain’s electricity networks through the 2030s is now 50% higher than before the Labour government came to power, and could reach almost £90bn in the next decade, according to the energy system operator.Building new high-voltage transmission lines and infrastructure to connect low-carbon energy to the grid in the 2030s was initially forecast by the energy system operator to cost £58bn. Continue reading...
theguardian.com
I’m paying £450 a month for a Peugeot EV I can’t drive
The car lease company won’t rescind my contract because it says the vehicle is driveable. The only problem is, it won’t even chargeMy brand new Peugeot EV stopped working within a fortnight of delivery.The dealer postponed the repair appointment by a month because it was too busy. Peugeot Assist, operated by the RAC, eventually collected it for repair under warranty two weeks ago, but it never reached the dealer. Continue reading...
theguardian.com
Millions of Britons urged to submit meter readings before energy price cap rises on Wednesday
Estimated 5.3m households on standard tariffs without smart meters risk being overcharged for some of June usageMillions of Britons could pay higher energy bills than they need to if they do not submit a meter reading before the price cap rises on Wednesday.The estimated 5.3 million households on standard tariffs who do not have a smart meter have been urged to take action before the new unit rates for gas and electricity take effect. Continue reading...
cnbc.com
Short sellers keep betting against Pop Mart — even though it's been a losing trade
Short sellers are doubling down on Pop Mart International even as a recent share price recovery turns their bearish bets on the Chinese toymaker increasingly risky.
cnbc.com
Japanese yen sinks to 40-year low, keeping intervention risks in focus
The Japanese yen weakened to its lowest level against the U.S. dollar since 1986 on Tuesday, keeping investors on alert for possible intervention from Japanese authorities.
theguardian.com
Brompton sells stakes to Decathlon and Chinese Labubu backer
British bike maker says cycling market is recovering from sales slump and investments will add new expertiseThe French sports gear retailer Decathlon and a Chinese investment group that was an early backer of Labubu soft toys have bought stakes in the British folding bike maker Brompton, as its boss said the cycling market was recovering from a slump in sales.Decathlon has acquired a 10% stake in the manufacturer while BA Capital has bought 5% in a deal understood to collectively be worth about £18m. Continue reading...
theguardian.com
‘Commanding heights of the economy’: the postwar blueprint that inspires Burnham
In the second of a series on nationalisation, we look at the lessons from Clement Attlee’s administrationWill Andy Burnham ‘go big’ in expanding the role of the state?A prime minister with ambitious plans for state ownership. Private companies that put profits before investment. A country struggling with onerous debts.The UK in 2026 with a new prime minister weighing up how and what price public utilities can be nationalised? No, this was Clement Attlee’s government in 1945, committed to taking over the commanding heights of the economy at a time when the country was on its uppers. Continue reading...
cnbc.com
Rafael Nadal talks tennis prize money, his hotels, and what sports taught him about business
Rafael Nadal opened his fourth Zel hotel as he expands into hospitality, education and sports after retiring from tennis.
cnbc.com
Alphabet stock pops 4% on Dow debut, but the tech giant faces major AI questions
Alphabet shares rose Monday as the company joined the Dow, but the blue-chip milestone comes as the stock remains under pressure.
theguardian.com
Ireland is big tech’s lapdog – and that compromises its EU presidency | Johnny Ryan
The country is dependent on the global giants that call Dublin home. Irish ministers can’t be trusted to chair vital European digital sovereignty talksOn the face of it, Ireland behaves like a good European by being a staunch advocate of human rights and a beacon of progressivism on the western edge of the continent. But there is one vital area in which its record is less than perfect – one that should cause concern when the Irish government takes over the rotating six-month presidency of the EU on 1 July. The EU’s tech and AI rulebook will be renegotiated during the same period, but the Irish state and economy have been captured by big tech. Ireland is so compromised that as president of the Council of the EU, it should recuse itself from all tech and digital sovereignty negotiations.The last time Ireland held the EU presidency was in 2013, during negotiations on the General Data Protection Regulation (GDPR). A leaked Facebook memo describes a 2013 meeting where the company’s executives met Ireland’s then prime minister to complain about the proposed data privacy rules. They left understanding they had Enda Kenny’s assurance that Ireland would use its “significant influence” as EU Council president to deliver what Facebook called a “positive outcome”. The executives also attended “a dinner hosted by senior Irish politicians to work through the various ways that the Irish could be helpful”.Johnny Ryan is director of Enforce, a unit of the Irish Council for Civil Liberties Continue reading...
theguardian.com
‘Am I losing this battle? Yes’: Martin Lewis on the online scams that steal his identity – and others’ life savings
Trusted by millions, the finance expert has seen his name and face used to mis-sell a string of fake investments. And yet, he says, it would be ‘very simple’ for the government to stop themThis month, an email from a consumer landed in Martin Lewis’s inbox. It was from an elderly woman with a disability who had been scammed when she invested in a scheme purportedly endorsed by Lewis – and lost her life savings. “THEY ARE BASTARDS!” Lewis wrote at the top of his social media post about it. Even though the personal finance expert is a veteran campaigner against fraud, he says he had “tears running down my face”. He still sounds upset. “I felt a mixture of frustration, anger and sadness.” Not only for the plight of the woman, but for the “constant, ongoing deluge of shit from the scammers”.Lewis never advertises anything. To hammer home the point, his social media profile picture has the words “I don’t do ads” tattooed on his forehead. But still, people fall victim to deepfake videos and frauds that appear to show him offering investments. The scale of harm is great enough that MoneySavingExpert (MSE), the company Lewis founded in 2003 and sold in 2012 for up to £87m – he is now its executive chair – has someone full-time handling these cases. Continue reading...
bbc.co.uk
India's biggest share sales tell the story of a country glued to its phones
NSE and Jio Platforms embody the sweeping changes in how India has consumed, invested and transacted over the past decade.
cnbc.com
China factory activity grows faster than expected in June on tech export demand
China's manufacturing engine held up this year as surging demand for artificial intelligence technology helped offset the drag from Middle East turmoil.
bbc.co.uk
Chinese tycoon sentenced to 30 years in US jail
Guo Wengui branded himself as a China critic, gaining followers who backed his fraudulent schemes.
cnbc.com
Japan is raising visa fees by up to 400% for the first time in nearly 50 years. Here's why
A single entry visa will climb to 15,000 yen, from the 3,000 yen charged currently, while multiple entry visas will cost 30,000 yen, up from the 6,000 yen now.
cnbc.com
Australia's competition regulator takes Amazon to court over alleged unfair Prime subscription contract terms
Australia's competition regulator is taking Amazon to court, alleging its Prime contracts required subscribers to pay AU$2.99 to avoid advertising, with no option for refunds
cnbc.com
CNBC Daily Open: An A-grade showing for Alphabet on its Dow debut
Politics also are on the radar as the Supreme Court handed President Donald Trump a split scorecard on executive power.
cnbc.com
Apple supplier Luxshare seeks up to $3.1 billion in Hong Kong share sale
Apple supplier Luxshare Precision Industry is seeking to raise as much as $24.27 billion Hong Kong dollars ($3.1 billion) through a Hong Kong share sale.
cnbc.com
Waymo and Uber end robotaxi pilot in Phoenix
The Waymo self-driving cars deployed in Phoenix for the Uber pilot will remain in use and make autonomous deliveries with DoorDash.
bbc.co.uk
We had packed lunches every day for 10 years and retired at 40
The Fire (Financially Independent, Retire Early) movement sees followers save as much as possible.
theguardian.com
Crypto firms operating in UK to be subject to sweeping new rules
City regulator will require booming industry to prove its resilience to risk from October next yearCrypto firms operating in the UK will be forced to prove they can weather market shocks and hold capital against risky assets as part of sweeping new rules announced by the Financial Conduct Authority (FCA).The regulations will increase supervision of the crypto industry, which has so far has faced minimal oversight despite a boom in popularity linked to social media influencers and a legitimisation drive under the US president, Donald Trump. Continue reading...
cnbc.com
CNBC's The China Connection newsletter: U.S.-China tech rivalry heats up—in other countries
U.S. and Chinese tech companies are increasingly pursuing opportunities outside their home markets, with government policy support.
cnbc.com
Eli Lilly, Regeneron among first companies selected for FDA initiative to speed review of new manufacturing facilities
Eli Lilly and Regeneron are among the first seven companies the FDA has selected for its PreCheck Pilot Program, CNBC has learned.
theguardian.com
High-street slot machines and casinos could face £460m tax rise under Burnham
Thinktank finds 43% of the public would support a move by Labour to raise taxes on adult gaming centresAll-night slot machine shops and casinos could face a £460m tax rise if Andy Burnham acts on his concerns about the gambling industry as prime minister, after an influential thinktank found the policy would have public support.Known by some in the gambling sector as “slot sheds”, adult gaming centres (AGCs) have flooded UK high streets in recent years, disproportionately targeting economically deprived areas. Continue reading...
cnbc.com
Trump laments 'tremendous loss' on mail-in ballots at Supreme Court, doubles down on voter-ID bill
Justice Amy Coney Barrett, whom Trump nominated in 2020, rejected arguments that federal laws preempt Mississippi permitting late-arriving absentee ballots.
bbc.co.uk
Hollywood director gets two and a half years in prison for defrauding Netflix
He was accused of using money for a Netflix show on lavish purchases like Rolls Royces and Ferraris.
cnbc.com
Comcast announces it will spin off NBCUniversal and Sky from cable business
Comcast said it will separate into two publicly traded companies through a tax-free spinoff of NBCUniversal and Sky.
bbc.co.uk
Will Andy Burnham's devolution plan raise economic growth?
BBC Verify has looked at what impact further devolution could be expected to have on the UK.
theguardian.com
Will Andy Burnham’s economic vision make us all better off? | Politics Weekly
Andy Burnham has made his first major speech since returning to Westminster. He announced proposals for a No 10 in the North as part of plans to devolve power and spread resources across the country. He said he wanted to regenerate towns, prioritising places that had been left behind.It sounds a lot like the “levelling up” of the Boris Johnson years, so can Burnham really make a change? Continue reading...
theguardian.com
EU sets up three months of talks with China over €360bn trade deficit
Two sides agree to try to make bilateral relationship ‘more balanced’ after weeks of threatsThe EU and China have agreed to enter three months of talks to try to avoid a trade war over the bloc’s €360bn (£310bn) annual import/export imbalance.In their first joint statement in seven years, the two sides agreed in Brussels to open a formal trade consultation after weeks of threats and recriminations from China if the EU imposed any measures to stop the flood of goods and components into the bloc. Continue reading...
theguardian.com
What is Andy Burnham’s economic and political blueprint for Britain?
Plans include greater regional power, public ownership of utilities and the end of trickle-down economicsBurnham sets out vision to transform Britain and fix ‘broken’ systemAndy Burnham’s speech at the People’s History Museum in Manchester was the first time we saw the man likely to be Britain’s next prime minister set out his vision for power.He promised “good growth in every postcode” in a speech that focused on a significant transfer of power out of Whitehall to local communities and a new economic vision. But what might this mean in practice?It will be about offering new opportunities to extend devolution in Scotland, Wales and Northern Ireland by taking power deeper down.They require radical change if the country is to get back on track.All parts of the UK should now be given the chance to develop … focusing on the things that most matter to them.We will ensure all parts of the UK are able to take greater public control of essential services like water, housing, energy and transport …Britain has lost almost 1.5m council homes since the 1980s and around the same number of people are now on housing waiting lists and have been there for a very long time.Shouldn’t we make our high streets the symbols of Britain’s renaissance?We will support every region to set clear and credible industrial ambitions – and provide the support to achieve them.We need a complete rethink of how we support the next generation to succeed, and it has to start with the education system.We will set out 10-year plans to bring down the cost of … essentials to individuals, families and businesses.All of it backed by the stability that comes from sound public finances, as I said before, and the discipline of our current fiscal rules. Continue reading...
theguardian.com
The Guardian view on Andy Burnham’s speech: Rewiring Britain needs Westminster to give up real power | Editorial
The country’s likely next prime minister sketches a post-Thatcherite state built on radical devolution. The test is whether Whitehall yieldsAndy Burnham is not prime minister of the UK – yet. His speech on Monday at the People’s History Museum in Manchester might be read as campaign fodder. But given his lack of opponents, the race to be Labour leader looks already over. If he enters Downing Street, the oration would be the most serious challenge to the Thatcherite settlement attempted by any prime minister since 1979. In office, it will only become that if he turns the language of devolution and public control into institutional power.For decades, Britain has privileged markets over public provision. It weakened local government and organised the state from the centre. And it treated utilities, housing and industry as best disciplined by private ownership and competition. The financial crash forced Gordon Brown into a necessary repudiation of some of those ideas. But that was an emergency. Since 1979, no prime minister has taken on all three pillars of Thatcherism at once. Mr Burnham’s speech does.Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
cnbc.com
Supreme Court rules Trump cannot fire Fed Governor Lisa Cook for now
The ruling by the Supreme Court means that Lisa Cook will remain as a Federal Reserve governor as her lawsuit challenging Trump's effort to fire her proceeds.
bbc.co.uk
Supreme Court blocks Trump's attempt to fire Federal Reserve Governor Lisa Cook
The decision, seen as a win for central bank independence, sends the fight over removal back to the lower courts.
cnbc.com
Supreme Court rejects Trump bid to appeal E. Jean Carroll $5 million verdict
E. Jean Carroll has said since 2019 that President Donald Trump sexually assaulted her in a New York department store dressing room in the mid-1990s.
cnbc.com
Putin’s fuel shortage admission signals growing strain on Russia’s energy infrastructure
Putin's comments mark the first time he has detailed the extent to which Ukraine's deep-strike successes have hampered Russia's fuel production.
bbc.co.uk
Burnham's 'Manchesterism' could change the UK, but is not yet a full economic plan
Andy Burnham's speech depicted a different way of seeing and running the UK, though there are many other questions about the detail.
theguardian.com
Nationwide to cut 600 jobs in first redundancies after takeover of Virgin Money
Exclusive: Move affects staff of both companies whose roles will be duplicated once operations are mergedNationwide building society is axing 600 jobs in the first major round of cuts linked to its controversial takeover of the high street bank Virgin Money.The move affects Nationwide and Virgin Money staff, whose roles are due to be duplicated once the lenders’ operations are fully merged. Continue reading...
cnbc.com
Oil prices near pre-war levels — but persistent supply risks could spark a rebound, analysts warn
Commodity strategists warn that Iranian leverage in the Strait of Hormuz will continue to weigh on oil markets and shipping costs.
cnbc.com
Trump says U.S. and Iran to hold fresh talks in Qatar on Tuesday following weekend clashes
The U.S. and Iran are poised to hold fresh talks on Tuesday in Qatar's capital, President Donald Trump said via social media on Monday.
cnbc.com
The AI boom is colliding with a new threat: Severe weather
Heatwaves and severe weather are raising risks for AI data centers, from grid strain to higher insurance and repair costs.
theguardian.com
US supreme court rules Trump’s firing of Lisa Cook from Fed was unconstitutional
Justices find president does not have constitutional authority to fire Federal Reserve governor without causeUS supreme court decisions – live updatesSign up for the Breaking News US emailThe US supreme court has refused Donald Trump’s attempts to immediately fire a Federal Reserve governor, in a landmark ruling that limits a president’s authority over the central bank.In a 5-4 opinion, the court said that Lisa Cook can stay on as a governor while she fights unproved allegations of mortgage fraud made by the Trump officials. Continue reading...
theguardian.com
Comcast to spin off NBCUniversal and Sky into separate media business
Entertainment arm to split from mobile and broadband in move that raises questions over future of Sky NewsBusiness live – latest updatesComcast is to spin off its media operation, which includes Sky and the Hollywood film studio, TV and theme park business NBCUniversal, into a separate publicly listed company.The move comes eight years after the US group, which said the separation will take a year to complete, acquired Sky’s European operations for £31bn. Continue reading...
cnbc.com
Trump bought as much as $5 million in Axon stock before ICE sought $220 million Taser deal
Axon Enterprise has ramped up lobbying in Congress on federal law enforcement technology as ICE pursues a potential $220 million Taser deal.
theguardian.com
BT and Verizon to create joint global business in $4bn deal
UK telecoms group’s 50/50 venture ends more than 18-month search for a buyer of its international operationsBusiness live – latest updatesBT and the US mobile company Verizon are to combine their international businesses, ending the British telecom group’s more than 18-month search for a buyer.Verizon will pay a $625m (£473m) “equalisation” fee to BT to guarantee equal voting rights in the new 50/50 joint venture, the companies announced on Monday. The deal is expected to create a company with more than 3,000 business customers across about 180 countries and $4bn in combined annual revenue. Continue reading...
bbc.co.uk
Inspired by Wimbledon and the World Cup? Here's how to play sport for free
As the world's best players begin play at Wimbledon, how can you get into sport on a budget.
bbc.co.uk
British American Tobacco to cut 9,000 jobs
The company had said earlier this year it was planning savings to make it "more digital and AI-focused".
theguardian.com
Once, cyber-attacks required great skill. AI is changing that | Bruce Schneier
Modern AI systems are, in effect, a universal adviser to help people do harmful things. We’ll need to harness AI for defense, tooLast week, national security agencies from the Five Eyes – that’s the rich, English-language-speaking countries club – jointly released a statement warning of the increasing cyber risks of AI models: in particular, their ability to autonomously hack into systems and networks. The statement was more measured than some of the breathless headlines about it, and the advice they gave is pretty much the standard advice everyone gives – albeit with newfound urgency.Internet risks are nothing new, and cyber-attacks – both large and small – have been a significant issue since long before the current crop of generative AI models.Bruce Schneier is a security technologist who teaches at the Harvard Kennedy School at Harvard University and University of Toronto’s Munk School Continue reading...
bbc.co.uk
Ford rehires human engineers after AI fails to match quality checks
The car-maker found AI quality checks failed to match the skill of veteran technicians.
cnbc.com
SpaceX's $25 billion bond sale drives huge demand - and a potential headache for investors
SpaceX’s $25 billion debt sale drew heavy demand, but analysts warn of capital spending, refinancing and investor concentration risks.
cnbc.com
China's economy picks up in June on rebounding U.S. exports, analysts say
China's economy is showing signs of picking up after a sluggish few months — thanks in part to a rebound in shipments to the U.S.
theguardian.com
Keir Starmer's attempts to placate big tech were a disaster. Andy Burnham must take a stand | Beeban Kidron
Labour came to power promising to tackle Silicon Valley. But from workers’ rights to online privacy it has failed at almost every turnDuring a recent conversation in the House of Lords, a former senior US government official told me that “democracy was broken”. When I asked why, they pointed to research that showed that governments – regardless of party – represent the interests of the wealthy and not the people who vote for them.Nowhere is this more visible than with the tech lobby, which has effectively thwarted all attempts to hold the sector to account, while at the same time embedding its services into the heart of the state and our personal lives.Beeban Kidron is a crossbench peer and the author of How Big Tech Took Control and How to Fight Back Continue reading...
bbc.co.uk
South Korea unveils $880bn chip and AI investment plan
It comes as regional rivals like Taiwan, China and Japan are investing heavily in chip factories and other technology.
theguardian.com
Holidaymakers warned over social media scams for fake accommodation
Research suggests travel scams are on rise as experts advise doing some detective work to make sure holidays are realHolidaymakers have been advised to carry out amateur detective work to ensure they do not book into fake accommodation this summer, as research showed a third of travellers had seen an increase in potential travel scams on social media.Consumer experts have urged holidaymakers to do a reverse image search on photographs of holiday homes and check their locations on an online map to verify they are real. Continue reading...
theguardian.com
Good for business – or profit at any cost? The controversial side of private equity – a visual explainer
While it can transform firms for better or worse, the use of private equity in essential services is attracting scrutiny. Here we examine some of its more contentious elements in the UK veterinary sectorPrivate equity could be the two most controversial words in business. For its supporters, it can bring investment, expertise and efficiency to a company. For critics, it is a one way ticket to profiteering, cutting costs and losing staff.The arguments over private equity are particularly fierce when it is used in the public sector, particularly the NHS. Continue reading...
theguardian.com
‘Buy the haystack’: how tracker funds beat searching for shares
Designed to mirror the stock market, they are an easy and cheap way to save. Here’s how to start investing in themTracker funds have been around for about half a century, providing investors with access to a range of assets without them having to make difficult and risky decisions.Built to follow the fortunes of a given financial market index, trackers do not need management teams, which means they generally come with low charges. If you have a workplace pension, you probably already invested in one without realising it. If you want to start investing, you are likely to be directed towards a tracker fund. Continue reading...
bbc.co.uk
Fears energy bill rise mean people 'surviving rather than living'
People in a Lancashire town say they "don't know where the money will come from" if bills go up.
bbc.co.uk
How much should we be prepared to pay for our food?
A chorus of people say that rather than capping prices, consumers should consider spending more
bbc.co.uk
Rogue builder left our roof leaking and spent £30K we gave him in Lanzarote
Christian Williams benefitted to the tune of £160,000 from offending - but had just £1 to pay back.
theguardian.com
‘We’re up against forces that have all the money in the world’: Erin Brockovich on her battle against AI datacentres
In 1993, she squeezed a $333m settlement from a Californian energy company in a scandal over contaminated water. Three decades later, she has a new target in her sights – and it’s globalWhen Erin Brockovich woke to find 30 emails from people from the same town, she realised something was going on. People email Brockovich all the time because of what happened in 1993, when she was instrumental in suing Pacific Gas and Electric Company (PG&E) on behalf of residents of the town of Hinkley, California, whose groundwater had been contaminated. The case resulted in a settlement of $333m – then the largest ever payout for a direct-action lawsuit. When she was immortalised by Julia Roberts in the 2000 film Erin Brockovich, she became the hero we didn’t know we needed, a modern day Joan of Arc. She had won against PG&E with no formal legal training.The emails she received a few weeks ago were about datacentres. In April, she put a callout on her website asking for anyone with concerns about one near them to get in touch. Within a month, 3,862 people had replied. Tech companies have needed datacentres to power their technology “for ever”, she says, but the new ones being built to power AI? “This feels like Hinkley on steroids.” Continue reading...
theguardian.com
From burning bogs to boutique bonanzas: how did Britain become a nation of festival obsessives?
They used to mean crusties, hippies, all-male lineups, near riots and burning toilets. Now, from Dorset to Inverness, there’s a festival – and a costume – for everyone. What caused this boom? And is there a dark side?It’s 7pm on the first day of Gala festival in Peckham Rye park and dry ice drifts into the trees as grime MC Novelist, born just miles away, raps about a south London bus. “Four eight four! Going on raw on the 484,” he spits with a grin, bouncing like the sweaty moshpit in front of him. There are already hands in the air for this hyperlocal elegy when the DJ teases the next instrumental, Skream’s unmistakable Midnight Request Line – dubstep’s greatest ever anthem.Gala is one of the first festivals of the now overflowing British summer season. That same weekend, Black Water County kicked off the Cursus cider and music festival in Dorset, Fatboy Slim headlined the Radio 1 Big Weekend in Sunderland, and scores more fizzed into action, from Elderflower Fields in East Sussex to Devauden in south Wales, Slam Dunk in Hertfordshire, Dot to Dot in Nottingham, as well as Sidmouth jazz and blues festival and Chippenham folk festival. Continue reading...
cnbc.com
U.S., Iran pause hostilities as Hormuz shipping resumes after weekend clashes
The U.S. and Iran agreed to pause hostilities and allow commercial vessels to move freely through the Strait of Hormuz, easing fears of a prolonged disruption to global oil supplies after a weekend of military exchanges.
theguardian.com
‘Crypto v community’: 4,000 local US lenders join forces to fight ‘stablecoins’ law
Up to 4,000 community banks fear looming legislation to regulate digital cash will deprive rural firms and farmers of $850bn-worth of loansOn a quiet summer morning, above a small mid-western town, an American flag is waving in the breeze. The camera cuts to a father helping his son at the wheel of a tractor, and flits to a smiling couple on a grass-lined pavement, moments before flashing to grainy images of “crypto insiders” in suits.“American families don’t want experiments with their money,” a voice booms. “They want jobs, growth, and available credit. When crypto gets a free pass, communities pay the price.” Continue reading...
theguardian.com
A US bus travel boom looks likely – but will Greyhounds ever be cool again?
For most Americans, riding a bus means abandoning expectations of basic dignity – but with an increase in ridership, that could change“It’s a grueling experience,” Greyhound bus enthusiast Miles Taylor explains. “You’re not treated very well. Everyone is yelling at you the entire time. When the bus is late, they blame you for it, like somehow you’ve done something wrong. You just get screamed at for wanting to know what’s going on, because no one says anything.”Taylor is obsessed with public transit. “I never really grew out of my little boy train phase,” the 26-year-old said. He works as a scheduler for Boston’s MBTA and runs a popular YouTube account documenting the bus trips he takes for fun in his spare time. Taylor traveled across the country by Greyhound twice; a Boston to Seattle route took 104 hours. But even he admits that America’s bus system is far from luxurious – or even comfortable. Continue reading...
theguardian.com
Ed Miliband as chancellor would benefit every part of the UK – and the bond markets | Josh Ryan-Collins
If Andy Burnham chooses the energy secretary, Labour could fully use the benefits of net zero to promote growth and jobsIt should have been a great week for Ed Miliband and his mission to decarbonise the UK economy. Western Europe has experienced one of its worst ever heatwaves, providing powerful evidence of the need to transition away from fossil-fuel-driven energy production to reduce the carbon emissions that are contributing to global heating.Instead, however, he has been attacked by an unholy alliance of trade unions and leading City figures, apparently determined to prevent him becoming chancellor in the cabinet of the presumptive new prime minister, Andy Burnham.Josh Ryan-Collins is professor of economics and finance at the UCL Institute for Innovation and Public Purpose Continue reading...
theguardian.com
‘British food will disappear’: trade deal after Brexit is hitting UK farmers hard
Home-grown food may become a niche product for wealthy in our supermarkets as British farmers’ incomes plummetFor Liz Webster, who farms 647 hectares (1600 acres) in Wiltshire, south west England, the latest impact of Brexit has been particularly brutal. About £400 per animal has been wiped off the price she can get for her beef cattle, a hefty blow at a time when all the inputs – feed, energy, fertiliser – are going through the roof.The fall in price, on livestock that typically fetch £2,000 to £3,000 per animal, is the result of a flood of cheaper meat arriving from Australia, the result of one of the new trade deals the government has signed since the UK left the European Union. Prices for beef in the supermarkets have remained broadly the same, but farmers have seen their income plummet. Continue reading...
theguardian.com
Rising cost of insuring against climate crisis will have wider knock-on effects for UK economy | Heather Stewart
As extreme weather events become more common, economists say government will need to take more active role to protect consumersAnyone attempting to notch up a productive day’s work in the searing heat of southern England this last week was left in little doubt about the impact of extreme weather.But the economic effects of the climate crisis for the UK are not confined to the many hours lost to quietly perspiring – or fetching kids dismissed early from scorching classrooms. Continue reading...
theguardian.com
The AI bubble has further to run despite the looming crash
As tech firms make huge profits and investors fear losing out, both are doing their best to hold off the day of reckoningOpenAI staggers AI model release after White House requestEvery couple of decades, investors will ask themselves how long can the stock market keep climbing. Is it safe to buy more shares? Is their pension or equity portfolio vulnerable should financial markets, and especially those in the US, come crashing down to earth?When stock markets rise to historically high levels – and beyond the level when normal profits can sustain share prices – a few “experts” typically warn of an impending crash. Continue reading...
theguardian.com
‘A sad inevitability’: after decades of climate warnings, why is Europe so unprepared for rising heat?
Scorching summer of 2003 triggered first efforts to deal with the problem but heatwaves still have devastating impactOn Wednesday, Pierre Masselot received a text from his daughter’s nursery – less than 50 miles from the weather station that was the first this week to break the UK June temperature record – asking parents to collect children early because the school buildings were about to get worryingly hot.Similar scenes were repeated across Europe this week as the continent swelters through its most severe and widespread heatwave on record – an oppressive force made hotter by carbon pollution and less bearable by repeated failures to prepare for it. France experienced its hottest day and night on record, while the UK and Switzerland both broke their heat records for a June day. Continue reading...
bbc.co.uk
Trump threatens 100% tariff on European nations over tech tax
The US president says "Numerous European countries" have been discussing bringing in such a levy.
bbc.co.uk
Could you handle a 20-plus hour flight? This airline is banking on it
Some analysts say the first non-stop London to Sydney flight is a major milestone - but would you buy a ticket?
bbc.co.uk
Three unusual things about the King's tax bill
King Charles paid £12.9m in tax for 2024-2025 - here's what we know about his unique tax situation.
bbc.co.uk
New ISA and Lifetime ISA changes explained
In this week’s episode, there’s a deep dive into first-time buyer savings, with a special focus on Lifetime ISAs.
theguardian.com
The king, his millions, and the first public royal tax bill – The Latest
King Charles has become the first monarch in modern times to reveal how much tax he pays on his private income: £24.6m over the last two years.The move comes after years of calls for the monarch to be more open with the public about the royal finances. Some are heralding this as a new era of transparency – but just how open has the revelation been?Lucy Hough speaks to our European financial affairs editor, Juliette Garside Continue reading...
theguardian.com
‘Fork in the road’: CEO of Amazon-backed Rivian on why carmakers need to invest in EVs
RJ Scaringe says firms focused on selling fossil fuel engines risk being ‘woefully behind’ on technology by end of decadeCarmakers that focus on selling fossil fuel engines are at risk of being “woefully behind” on technology by the end of the decade, according to the boss of Rivian, an Amazon-backed US electric carmaker.RJ Scaringe, Rivian’s founder and chief executive, said the car industry has reached a “fork in the road” in the choice between short-term profits and the heavy investments, particularly in software, that will be required to survive. Continue reading...
bbc.co.uk
What's happening to petrol prices now oil is back to pre-Iran war levels?
When the conflict began on 28 February, fuel costs jumped as the war disrupted the production and transportation of energy across the Middle East.
bbc.co.uk
How do you escape an overdraft?
How do you escape an overdraft? Finance expert Ioan Bain explains
bbc.co.uk
Who could be the UK's next chancellor?
The prime minister's resignation has fired the starting gun on the race to be in charge of the UK's finances.
bbc.co.uk
Asia stock markets slide as tech shares slump
Trading on South Korea's Kospi index was halted for the third time this week to prevent panic selling.
theguardian.com
Brexit: An Oral History – podcast
This week marked 10 years since the UK chose to leave the EU. In a series of interviews with key players from both sides, Kiran Stacey looks back on the Brexit vote that changed the country foreverRead the Guardian’s full article on Brexit here Continue reading...
bbc.co.uk
Power banks and vapes now biggest fire risk on planes
Lithium battery fires are the number one safety risk to aircraft, yet the number of devices found in hold bags has nearly doubled in a year.
bbc.co.uk
Teens who hacked TfL were known to police years before cyber-attack
Owen Flowers and Thalha Jubair were convicted for their roles in the attack, which led to large costs for Transport for London.
bbc.co.uk
I'm back at home again after uni - here's how I'm making it work
Rising costs are forcing more young adults to live with their parents, here's how not to come to blows.
bbc.co.uk
Business Daily
Heatwaves, pensions, and tech volatility - stories shaping the global economy this week.
bbc.co.uk
Apple hikes some prices by nearly 20% while Xbox raises console cost
Apple said it had "never seen a component price increase this much, this quickly".
bbc.co.uk
Rethink
Could the US dollar lose its number one status?
bbc.co.uk
Ryanair says it will reluctantly not charge parents to sit next to children
The airline had typically charged adults a fee of £8 each way to sit with their young children.
theguardian.com
Why we're paying more for locally grown food than imports – video
British apples grown at home are often more expensive than apples shipped from countries thousands of miles away. And it's not just apples. Bananas, which are virtually all imported from tropical countries, are consistently the cheapest fruit available per kilogram on UK supermarket shelves. Josh Toussaint-Strauss investigates the peculiar economics of supermarket fruit, and discovers there are many aspects of our food supply system that don’t appear to make much sense Continue reading...
bbc.co.uk
The legal fight to get equal pay for Germany's disabled workers
A test case is seeking the minimum wage for 300,000 disabled people who currently get paid less.
bbc.co.uk
The Food Chain
From kiwi fruit to caffeine: what helps, and what hinders, a good night's rest?
bbc.co.uk
Do you know your 'sweat score'? The rise of hydration tech
Hydration tracking gadgets are flooding the market but is it too much information?
bbc.co.uk
Is Germany looking again at coal-powered electricity?
It had planned to abandon the fuel, but the higher cost of natural gas may make it think again.
bbc.co.uk
The artificial ice pyramids saving India's mountain villages
Himalayan villages are creating artificial glaciers to guarantee water for their crops in the spring.
bbc.co.uk
'We had to get out of the way': The backlash over delivery robots
As the delivery vehicles increasing take to US streets, bans and protest groups are springing up.
bbc.co.uk
What is Helium-3 and could we get it from the moon?
Helium-3 is expensive and demand is forecast to soar, so some are planning to mine it on the moon.
bbc.co.uk
Why I sold my business to my staff
As more US company owners reach retirement age many are selling up to their employees.
bbc.co.uk
India's 'blue gold' starts a new drinks industry
Agave plants grow wild in India and new distillers are using them to create a spirits industry.
bbc.co.uk
The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
bbc.co.uk
New candy stores are popping up across NYC. Why?
While US consumer confidence is at an historic low the Big Apple's sweet shops are expanding.
bbc.co.uk
Could humanoid robots be heading for the battlefield?
Armed forces are experimenting with humanoid robots, but battlefield deployment is some way off.
bbc.co.uk
How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
bbc.co.uk
The £5 coffee that tells a story of global economic turmoil
Coffees at some city centre outlets now cost £5. It's a story of tariffs, the climate, Gen Z cultural tastes, and savvy coffee farmers playing the market, writes Faisal Islam
bbc.co.uk
The threat to summer holidays looming from jet fuel shortages
What impact might shortages have on our summer holidays - and what could be done about it?
bbc.co.uk
Scammers are becoming ever more sophisticated - this is what the fightback looks like
Scams have exploded over the last few years. Can countries and companies come together to turn the tables on the scammers?
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